DeFi Development Corp. (Nasdaq: DFDV), a Solana treasury company, said its SOL and SOL equivalents holdings rose by 55,491 tokens to about 2.3889 million, up roughly 2% from Aug. 27. The company said continued SOL purchases, along with staking and other yield-generating strategies, have helped expand its SOL position.
At the same time, DFDV established an at-the-market program for up to $300 million of CHAD perpetual preferred stock, with R.F. Lafferty & Co. serving as the exclusive sales agent. The company said it plans to issue CHAD at a price of no less than $10 per share, and that most of the proceeds are intended for additional SOL purchases.
DFDV also said creating the ATM facility does not mean it will raise capital immediately, nor does it obligate the company to sell shares. In its statement, the firm said the new financing tool strengthens what it described as a capital cycle of raising funds, buying SOL, generating yield, and increasing SOL per share. The company added that, so far in the third quarter, SOL has outperformed the Nasdaq 100 by 39%, while DFDV's own performance has been about twice that of SOL over the same period.
DeFi Development Corp. (Nasdaq: DFDV), a Solana treasury company, said on Sept. 14 that its holdings of SOL and SOL equivalents increased by 55,491 tokens to about 2.3889 million, representing growth of roughly 2% from Aug. 27.
The company said continued SOL purchases, together with yield generated through staking and related methods, has been driving further expansion in the size of its SOL position.
$300 million CHAD financing facility established
At the same time, DFDV set up an at-the-market issuance program for up to $300 million of CHAD perpetual preferred stock. R.F. Lafferty & Co. will act as the exclusive sales agent.
According to the company, CHAD is planned to be issued at a price of no less than $10 per share, with most of the proceeds earmarked for additional SOL purchases.
DFDV said establishing the ATM program does not mean an immediate fundraising transaction will take place, and it is under no obligation to sell shares.
Company says the tool reinforces its capital cycle
DFDV said the new financing instrument will strengthen what it described as a capital cycle of "raising capital, buying SOL, generating yield, and increasing SOL per share."
The company also said that, so far in the third quarter, SOL has outperformed the Nasdaq 100 by 39%, while DFDV's performance over the same period has been about 2x that of SOL.
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